Consol, EQT Slapped With Gas Royalty Actions

Law360, New York (June 29, 2010, 5:36 PM EDT) -- EQT Corp. and Consol Energy Inc. have been shortchanging lessors by improperly deducting post-wellhead costs and using prices below fair market value to calculate royalties on natural gas from Virginia, according to two putative breach of contract class actions.

The complaints were filed in the U.S. District Court for the Western District of Virginia on Monday. One of the complaints named Consol Energy and subsidiary CNX Gas Corp. as defendants, while the other targets EQT and EQT Production Corp.

According to the suits, the proposed class...
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